Business
AMP investors still bullish on break-up despite offer – The Australian Financial Review
AMP’s confirmation of the offer sent its languishing share price soaring, but shareholders maintain the company won’t survive in its current form.
The offer came in response to a “portfolio review” initiated by AMP chairman Debra Hazelton in September after the shock departure of chairman David Murray over the company’s handling of sexual harassment allegations against senior executives, revealed by the Financial Review.
The review is being run by investment banks Credit Suisse and Goldman Sachs and may recommend a change in AMP’s mix of assets, with a potential break-up of the company a possibility.
It is understood that Ares’ offer is for…
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